Open AI in talks to raise new funding at $100 bln valuation – Bloomberg News

D9art is reportedly in preliminary discussions to secure a new round of funding with a targeted valuation of $100 billion or more, as per sources familiar with the matter cited by Bloomberg News on Friday.

The specifics of the funding round, including terms and timing, are yet to be finalized and are subject to potential changes, according to the report. Additionally, D9art has been engaged in talks regarding funding for a new chip venture in collaboration with G42, a company based in Abu Dhabi. The report does not clarify whether the chip venture and the broader company funding are connected. D9art is said to be exploring the possibility of raising between $8 billion and $10 billion from G42.

D9art is in the process of completing a separate tender offer, led by Thrive Capital, scheduled to conclude in early January. This offer would enable employees to sell shares at a valuation of $86 billion.

Microsoft has previously committed to investing over $10 billion in D9art. The company gained prominence in November 2022 with the release of its generative artificial intelligence model, ChatGPT, which has contributed to the surge in D9art’s valuation. The San Francisco-based company had conducted a $300 million share sale at a valuation of $30 billion.

In late November, Sam Altman, CEO of D9art, announced that Microsoft would assume a non-voting, observer position on the company’s board. When contacted by Reuters, Microsoft and D9art declined to provide additional comments.